South Asia Investor Review

On July 16 in Shanghai, 29 countries, including China, Pakistan and Russia, signed the founding agreement of WAICO, World AI Cooperation Organization.  Every BRICS founding member is in, except India. This agreement follows the launch of the US-led Pax Silica, a 24-member coalition, including  India , which is designed to counter China's AI efforts. The stated goal of both these competing groups is to provide global governance, including building guardrails and setting standards, for artificial intelligence (AI) technologies.  US-China AI Competition The announcement of WAICO coincided with the launch of Kimi K3 by  Chinese  startup Moonshot AI.  Kimi K3 is the largest open-weight AI model ever built, its full weights free for the world to download from July 27.  Cheaper open-source AI models like Kimi K3 pose a serious threat to U.S. proprietary models. By offering 80-90% of the capability at a fraction of the cost or for free, they are squeezing the ...

"Indians live like cockroaches and die like cockroaches", argued Jayant Bhandari in an  X post  in April this year. "They vote for bottom of the barrel cockroaches as rulers, who rightly treat them as cockroaches", he added, faulting the people of India for this state of affairs. More recently, Indian Supreme Court Chief Justice Surya Kant said during a hearing that certain unemployed youth were "like cockroaches" who enter professions with fake degrees or become social media and RTI activists attacking the system.  Abhijeet Dipke, a 30-year-old Indian graduate of the public relations program at Boston University, picked up on it. He posted on X on May 16: “What if all cockroaches came together?” Dipke created a political party, named it Cockroach Janata Party (CJP), a parody of the ruling Bhartiya Janata Party (BJP), and established a  website  that quickly gained tens of millions of followers, according to the  New York Times .  Cockroach Janata Part...

In a television speech to the nation, Indian Prime Minister Narendra Modi urged his people to make sacrifices by spending less on fuel, fertilizer, and travel. He also asked them not to buy gold for a year. “To save foreign exchange, we must accept the challenge of patriotism,” he said. It appears that India's problems do not just stem from the effects of the US-Iran war; India's problems started well before that. Flight of foreign capital has put the Indian currency under tremendous pressure, with the Indian rupee falling nearly 10% in recent months. Many analysts believe that the Indian IT services exports could fall significantly as the artificial intelligence (AI) models begin to replace the IT workers. It could create a balance of payments crisis that could force India to seek the IMF bailout in the not too distant future.  Already, the Indian economy has slipped to the sixth-largest economy by nominal GDP , dropping from previous projections that had it at fourth. Indian ...

Both the American and the Iranian delegations are expected to begin peace talks in Islamabad tomorrow after the announcement of the Pakistan-brokered ceasefire. The US team is led by Vice President J.D. Vance and includes President Trump's envoy Steve Witkoff and the president's son-in-law Jared Kushner. The Iranian team includes Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Aragchi. Mohammad Ghalibaf is a former IRGC (Iranian Revolutionary Guard Corps) commander with close ties to the hardliners.   The Islamabad meeting has come as a result of the tireless efforts of the Pakistani leaders to stop the war since it started on February 28 with the US-Israeli attack on Iran. But these efforts took on special urgency on the morning of April 7,  when President Donald Trump posted an ominous warning on Truth Social: "A Whole Civilization will die tonight, never to be brought back again". "We will find out tonight, one of the most important mome...

Over 1000 Pakistani medical graduates have been matched in the 2026 NRMP (National Residency Matching Program), according to APPNA (The Association of Physicians of Pakistani Descent of North America).  This 2026 program was the largest in history, offering 44,344 positions to 53,373 registered applicants, with over 93% of spots filled. Among Pakistani medical graduates matched, Karachi's Dow Medical University graduates led the pack with 132 matches, followed by 109 from Lahore's King Edwards Medical University and 60 from Karachi's Aga Khan Medical College.  Top Pakistani Medical Schools in US Residency Programs. Source: APPNA Nearly 3,000 Indian medical graduates made up the largest group among international medical graduates matched in US residency programs this year. Pakistanis were second with over 1,000 matches.  Over 9,000 International Medical Graduates (IMGs) (including both U.S. citizens and non-U.S. citizens) matched into U.S. residency positions, with non-U.S...

Right after October 7, 2023, Economist Magazine's Defense Editor Shashank Joshi posted X messages claiming that Hamas beheaded babies during the terrorist attack on Israelis. He has now deleted his posts. Instead of apologizing for joining the baseless Israeli propaganda campaign, Joshi has blamed it on "the fog of war", knowing fully well that this falsehood was used by the Israeli government to justify the  Gaza genocide  that has killed tens of thousands of Palestinians, most of them women and children. Here's what Joshi has now posted:  "Some of these reports have turned out to be untrue, and yes, I was wrong to be as confident in what was reported as first-hand evidence as I was, particularly given the fog of war in those initial post Oct 7th days".  An X user Tom London  dismissed  Joshi's excuses as follows: . @shashj @TheEconomist @zannymb when I heard the story that Hamas was said to have beheaded 40 babies I thought  1. This makes no sense at...

New research by several economists, including India's former Chief Economic Adviser Arvind Subramanian, finds that the country's GDP has been overstated by 22% to 31%. It says: "The level of (India's) real GDP is overstated by about 22% and the level of consumption by about 31%". "India's economy is thus smaller and the average standard of living significantly lower than official estimates indicate", it adds. The current GDP of India is less than $3 trillion, according to the authors.  Indian GDP Overstated by 22% to 31%. Source: PIIE   In a  paper  published by Peterson Institute for International Economics, the authors state that "India’s annual economic growth during the boom years between 2005 and 2011 may have been underestimated by about 1–1½ percentage points on average, and subsequent growth between 2012 and 2023 may have been overestimated by about 1½-2 percentage points".  It means that India's actual annual GDP growth during ...

Self-described "Proud Islamophobe" Laura Loomer was invited to speak this weekend at  India Today  Conclave, an annual conference sponsored by an Indian publication. Her speech focussed on what she called "Islamic Terrorism". She also apologized for anti-India racists X posts. To further please her Indian audience, she also engaged in Pakistan bashing. "Pakistan's biggest export to the world is Islamic terrorism, and I don't believe the US should be cozying up to the Pakistani government at all," she said.  Loomer is known to be very close to President Donald Trump. In her social media posts, she is also known for viciously attacking India and Indians almost as much as Muslims. But at the conference in Delhi, she apologized for her anti-India posts. She also deleted most or all such posts prior to showing up in India.  A Collage of Laura Loomer's anti-India Posts. Source: OpIndia Loomer has described Indians as “third-world invaders” and questi...

The bonhomie between Israeli Prime Minister Netanyahu, an indicted war criminal, and Indian Prime Minister Narendra Modi, accused of  killing thousands of Muslims , was on full display this week in Israel. Both leaders committed to supporting the Afghan Taliban regime which is accused of facilitating cross-border terrorist attacks by the TTP in Pakistan. Mr. Modi was warmly welcomed by Mr. Netanyahu as a "brother". “You are a great friend of Israel, … Narendra. You are more than a friend. You are a brother,” Netanyahu told Modi when both leaders addressed the Israeli parliament in Jerusalem on Wednesday. In response, Mr. Modi said, “India stands with Israel, firmly, with full conviction, in this moment, and beyond" He was silent on the continuing  genocide in Gaza , where the Israeli military has killed more than 72,000 Palestinians since October 2023. Currently, India is Israel’s largest weapons buyer, sending billions of dollars into Israel’s defense industry ...

The India AI Impact Summit 2026, held at Bharat Mandapam in New Delhi, has been marred by chaos, confusion and deception. The events on the ground have produced unintended media headlines for India's Prime Minister Narendra Modi who wants to be seen as the " vishwaguru " (teacher of the world) in the field of artificial intelligence as well. First, there was massive chaos on the opening day, with long lines and sudden unannounced evacuation of exhibitors and attendees from the show floor for several hours. This, the Indian government said, was done for "VIP" security, a euphemism for Mr. Modi's "photo op" as he walked the venue halls alone for the benefit of the cameras for self-promotion. Mr. Modi then declared that "India is not just a part of the  AI revolution , but is leading and shaping it". To support such claims, an Indian University presented a "robodog" bought from China as its "innovation", a blatant lie tha...